“Well of course the government spends more money now than it did 50 years ago! There’s more people in the country! Duh!” “Well of course the government spends more money now than it did 50 years ago! There’s inflation! Duh!” Alright then. The above chart shows federal outlays per capita, and adjusted for inflation. As… Continue Reading →
The Real Reason For Income Inequality
Watch the above video. The reason we have massive income inquality is becaues goverment prints trillions of dollars, the super-rich benefit from this money first (before it devalues), get richer, and then the middle class and poor become poorer. The reason we didn’t have this kind of inequality in the past is because the government… Continue Reading →
College Is A Bad Idea, Part 234
You only need to watch the first 5 minutes of the above video to get the gist. A self-made billionaire making the exact same points I’ve been making about college for years. The cost of college has gone up ten times since the 80s. Even if you adjust for inflation, the cost has quadrupled. At… Continue Reading →
Fun With Minimum Wage
I like Funny or Die. It’s a good site and there’s some entertaining stuff over there. However like all Hollywood enclaves it’s extremely left-wing in its messaging, to the point where circular logic doesn’t seem to bother them. In the video, Mary Poppins quits because she can’t afford to live. This is because, she complains,… Continue Reading →
The Economics of Jennifer Anniston
Recently I was listening to a radio show where they were reporting on Jennifer Anniston’s recent remodel of her house. She and her husband were doing things like relocating entire stairways, adding on multiple wings, etc. The entire cost of this little remodel was $21 million. One of the commentators immediately went into the predictable… Continue Reading →
The Greatest Century
What was the greatest century in all of human history? The 20th? The 17th? Something earlier perhaps? There’s actually some consensus about this. Most historians consider the century between 1815 and 1914 as the greatest century of all of human history. Why? Primarily because of two factors: A) Massive advances in technology, trade, and standard… Continue Reading →
I Can’t Believe I Agree With Ralph Nader
Watch the latest video at video.foxnews.com It’s a very strange world we live in where a small-government libertarian jerkwad like me finds himself agreeing with most points made by Ralph Nader, who is as socialist as they come. I don’t agree with all of his points, but certainly with more than two-thirds of them. Here are… Continue Reading →
Germany’s Biggest Bank Owns More In Derivatives Than 20X The Size Of Germany
Holy shit. The green bar above is the entire GDP of Germany. The blue is the entire GDP of the Eurozone. The red is Deutsche Bank’s current derivative exposure. Isn’t that nice? Let’s put this in perspective. Germany is considered, probably correctly, Europe’s strongest economy. Deutsche Bank is the largest bank in Europe, and the argument could… Continue Reading →
American Taxpayers Bail Out Rich Bankers In Ukraine
It never ends. Congress just fast-tracked $1 billion of American taxpayer cash to bail out Ukraine. But as usual, the money isn’t going where you think it is… Not a single needy Ukrainian will see a penny of this money, as it will be used to bail out international banks who hold Ukrainian government debt…. Continue Reading →
The Top 10 Freest Countries In The Word
The Index of Economic Freedom has just released its 2014 numbers, ranking all the countries in the world based on the overall freedom level of their citizens. The criteria they use are rule of law (property rights, lack of corruption), limited government (government spending, government waste, tax rates, etc), regulatory efficiency (business, labor, and monetary… Continue Reading →
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